AEON accelerates investment expansion, aiming to triple its size by 2030

According to a report from Modor Intelligence, the Vietnamese retail market is on the rise with an expected size of 309 billion USD by 2025 and about 546 billion USD by 2030. Of which, modern retail accounts for 12-15% of the market share, creating a large space for businesses to expand and transform their business models, including AEON.

Identifying Vietnam as a key strategic market alongside Japan, leading in growth rate in the AEON system in the region, AEON aims to triple its current size by 2030. At the same time, implementing a comprehensive strategy with three focuses: bilateral development both vertically and horizontally, building a comprehensive "AEON Ecosystem".

AEON will also promote initiatives that contribute to the community and sustainable development, thereby affirming and strengthening its pioneering position in the modern retail sector in Vietnam.

Identifying Vietnam as a key market, AEON is constantly expanding its scale of operations.

Impressive market growth in AEON system

In 2024, AEON in Vietnam achieved a revenue growth of 120% over the same period, continuing to maintain its position as the market with the highest growth rate outside of Japan in the region. During the year, AEON opened 3 Shopping Centers (TTMS), Department Stores and Supermarkets (TTBHTH & ST), increasing the total number of centers from 6 to 9.

In particular, AEON Hue Shopping Mall is directly invested and operated by the Group, while AEON Ta Quang Buu and AEON Xuan Thuy are shopping centers and distribution centers deployed under a cooperative model, located at partners' shopping centers.

This combined model reflects AEON's flexible expansion strategy, while proving its effectiveness with the growth rate of the Vietnamese market. AEON's retail and distribution centers in Vietnam are always among the leading groups of the Group in terms of revenue, while attracting a very high number of customers, clearly reflecting the strong growth potential of the Vietnamese market.

Mr. Tezula Daisuke, Member of the Group's Executive Board, Chief Representative of AEON Group in Vietnam and General Director of AEON Vietnam, said that AEON is operating according to its growth roadmap in Vietnam.

“AEON is operating according to the growth roadmap set by the Group, in which Vietnam is the market with the highest growth rate of AEON abroad,” said Mr. Tezuka Daisuke - Member of the Group's Executive Board, Chief Representative of AEON Group in Vietnam and General Director of AEON Vietnam.

However, according to Mr. Tezuka Daisuke, despite maintaining impressive growth momentum, AEON's store scale and revenue in Vietnam are still modest compared to the potential of a market of more than 100 million people.

Aiming to triple current size in Vietnam

Vietnam's retail market is forecast to continue to grow strongly and with great potential, as modern retail channels only account for 12-15% of market share, the rest are mainly traditional markets and grocery stores.

To seize market opportunities, AEON has set a target of tripling the number of stores and current revenue by 2030. That means AEON needs to achieve an average growth rate of 40%/year compared to the current rate of about 20%.

Identifying Vietnam as a top priority market in its overseas development strategy alongside Japan, AEON implements a bilateral development strategy both vertically and horizontally.

Vertically, focus on reforming the supply chain, developing private label products, while maintaining high quality and affordable products. Horizontally, accelerate system expansion, diversify markets, and enhance nationwide shopping experiences, bringing quality products closer to consumers.

At the same time, AEON focuses on contributing to the local community, aiming for sustainable development and long-term commitment to Vietnamese society.

Specifically, to expand its business, AEON continues to promote horizontal development with diversified retail models that are flexibly deployed according to the characteristics of each urban area, each residential area and the needs of people in each locality. From there, it meets the increasing needs of the market and expands brand coverage nationwide.

By 2025, AEON's plan is to develop 4 shopping malls and retail centers, including AEON Tan An shopping mall (in Long An ward, Tay Ninh province) and 3 retail centers at shopping malls of real estate developers (2 in the North and 1 in the South).

At the same time, AEON plans to open at least 10 more AEON MaxValu supermarkets. In addition, AEON is continuing to expand its chain of specialized stores to meet the specialized needs of customers, while promoting the AEON Eshop e-commerce channel to provide nationwide delivery services.

AEON to expand private label development

In terms of region, besides focusing on big cities like Ho Chi Minh City and Hanoi , the Japanese retailer also aims to expand to other provinces and cities, bringing the Japanese standard shopping experience closer to customers in many areas across the country.

In parallel with horizontal development, vertically, AEON aims to develop a comprehensive supply chain that is operated in a closed loop, from product research and development to distribution to ensure quality, stable supply and reasonable prices to customers.

The private label product development strategy is designed to realize AEON's core values, through the development of products manufactured in Vietnam and available only at AEON, typically the private labels TOPVALU and HÓME COÓRDY.

The focus of the strategy is to build a comprehensive supply chain that meets local consumer needs at reasonable prices, while maintaining AEON quality standards.

In addition, AEON constantly improves the capacity of domestic suppliers, expanding opportunities to bring Vietnamese products under the TOPVALU brand to international markets, including Japan and countries in the region.

“I came to Vietnam with the mission of building a development strategy that meets the Group's expectations, but above all, to bring happiness, convenience and better quality of life to Vietnamese consumers,” Mr. Tezuka Daisuke emphasized.

Source: https://baodautu.vn/aeon-tang-toc-mo-rong-dau-tu-huong-den-muc-tieu-tang-gap-3-quy-mo-vao-nam-2030-d359226.html